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ollegr [7]
3 years ago
7

You and several friends are stranded on a desert island. the group decides to gather coconuts. being afraid of heights, the grou

p decides that the best way to gather coconuts would be to knock them down by throwing rocks at them. later, it is decided to build a catapult to hurl the rocks into the tops of the palm trees. how would economists classify the rocks and the catapult?
Business
2 answers:
dlinn [17]3 years ago
6 0

Answer:

Rocks are land, and the catapult is capital since it had to be built by people.

Explanation:

According to a different source, these are the options that are included with this question:

  • Rocks are just rocks, and the catapult is land since it’s made of wood.
  • Rocks and catapults are both capital because they are used as tools.
  • Rocks are land, and the catapult is capital since it had to be built by people.
  • Rocks are labor because people had to throw them, and the catapult is entrepreneurship because someone had to design it.
  • Rocks and the catapult are both land since they both originated in the earth.

This question refers to the factors of production. Factors of production are the inputs that are necessary in order to create a particular good or service. These can include land, labor, entrepreneurship and capital. These concepts were developed by economists such as Adam Smith and Karl Marx. In this example, the rocks would be considered land, while the catapult would be considered capital, as it was built by people.

klasskru [66]3 years ago
3 0

Capital is a way of having land and labor to be involved for production. In the given scenario above, the catapult and rock would be a capital since it is needed to be made by people in order to gain something or it is used for production.

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Sylvia's annual salary increases from $102,300 to $109,500. Sylvia decides to increase the number of vacations she takes from th
Vinvika [58]

Answer:

4.20 and normal good

Explanation:

The computation of the income elasticity of demand is shown below:

= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in income ÷ average of quantity income)  

where,  

Change in income would be

= Q2 - Q1

= 109,500 - 102,300

= 7,200

And, average of income would be

= (109,500 + 102,300) ÷ 2

= 105,900

Change in quantity demanded would be

= 4 - 3

= 1

And, average of quantity demanded would be

= ($4 + 3) ÷ 2

= 3.5

So, after solving this, the income elasticity of demand is 4.20

Since the elasticity comes in positive which means the good is a normal goods

7 0
3 years ago
Bill spent most of his month’s allowance for expensive tickets to a rock concert after Lorene said she would go with him. On the
aksik [14]
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8 0
3 years ago
As the CEO of a conglomerate, Eva Morris exhibited her strong commitment toward the company's core value that customers' well-be
jenyasd209 [6]

Answer: social responsibility of business to customers

Explanation:

social responsibility of business is the voluntary roles which business play in the society

It is the moral obligation that business owes the society, in other words, it refers to the ways in which business enterprises could assist to develop the local communities in which they operate.The business can have responsibilities towards the following

Owners : The business has it as a responsibility to protect the investment of its owners. It has to ensure that a reasonable return is earned on such investment, in addition, efforts must also be geared toward ensuring the growth of the business.

Customers : The business responsibility to their customers include the production and distribution of high quality goods and services advertising correct and not defective goods and services, labelling goods clearly and correctly, offering and explaining credit facilities and adopting after sales services. The business must recognize that the ultimate success or failure of the business rest to a large extent with the customers, The business must ensure that they do not sell to their customers fake product or produce products which may be injurious to the health of their customers.

Employees : The employees are the Labour component of the factors of production, the responsibility of the business to their employees is to pay commensurable salaries and provide satisfying work ,job security and good working conditions for their employees.

Creditors : The creditors are those individuals or organizations whom the business owe money.It is the responsibility of the business to repay these debt as they fall due.It is equally essential for business to cultivate a good culture of debt management.

Government : The business has a responsibility to obey the various government laws guiding business operations. It must also pay its taxes at the right time and contribute to the economic development of the country.

8 0
3 years ago
I need a Christmas present for a 40-year-old man a 32-year-old woman a 9-year-old girl a 12-year-old girl and a 4-year-old boy
e-lub [12.9K]
What is the question??
4 0
2 years ago
Firm A is being acquired by Firm B for $35,000 worth of Firm B stock. The incremental value of the acquisition is $2,500. Firm A
LekaFEV [45]

Answer:

option (b) $34,789

Explanation:

Data provided in the question:

Worth of Firm A = $35,000

Incremental value of the acquisition = $2,500

Number of shares of Firm A outstanding = 2,000

Price of Firm A shares = $16 per share

Number of shares of Firm B outstanding = 1,200

Price of Firm B shares = $40 per share

Now,

Number of shares issued = Worth of Firm A ÷ Price per share of Firm B

= $35,000 ÷ $40

= 875 shares

Value per share after merger

= [ (1,200 × $40) + ( 2,000 × $16 ) + $2,500 ] ÷ [ 1,200 + 875 ]

= $82,500 ÷ 2,075

= $39.759

Therefore,

The Actual cost of acquisition

= Number of shares issued × Value per share after merger

= 875 × $39.7588

= $34788.95 ≈ $34,789

Hence,

The answer is option (b) $34,789

4 0
3 years ago
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